New mortgage rules are coming into effect in January 2018 so now is the time to buy for anyone who does not want to be impacted by the changes. If you have not had time to save up for your down payment, borrowing from your RRSP is a viable option. Here is what you need to know.

1. You will need to access the Government of Canada’s Home Buyers’ Plan

Earlier this year, it was announced that qualifying for a mortgage is about to change. Effective January 1, 2018, the rules will make it a little more difficult for some Buyers to secure a mortgage. If you do not want to worry about how the changes will affect your home buying process, then now is the time to buy. Here is some advice to help you buy a great home, at a great price, before t ...

New Mortgage Rules Set

Canada’s top banking regulator has published the final version of its new mortgage rules, which include a requirement to “stress test” borrowers with uninsured loans to ensure they could withstand higher interest rates. The new guidelines for the mortgage industry will come into effect on January 1, 2018.